Anil Singhvi strategy October 3: Important levels to track in Nifty, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,500-19,550 levels and a strong buy zone at 19,435-19,485 levels on Tuesday, October 3, as market participants return to trade after a long weekend.

For the Nifty Bank, he expects support at 44,250-44,350 levels and a strong buy zone at 44,000-44,200 levels.

Here's how Anil Singhvi sums up the market setup:

• Global: Negative

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

Singhvi sees a higher zone coming in for the Nifty at 19,635-19,700 levels and a strong sell zone at 19,725-19,800 levels. For the banking index, he expects a higher zone at 44,650-44,750 levels and a strong sell zone at 44,925-45,000 levels. 

ANIL SINGHVI MARKET STRATEGY  

Singhvi expects some support from strong GST numbers and easing crude oil prices, though he warns that pressure in the market may continue owing to strength in the dollar index as well as bond yields. He believes traders will get opportunities aplenty to catch action on both sides. 

He sees strong support for the Nifty and the Nifty Bank coming in at 19,250-19,350 and 43,600-43,800 levels, and expects higher ranges in the 19,700-19,800 and 45,800-46,000 bands, respectively. Only closing levels above 19,800 and 45,000 should be considered a sign of strength, respectively. 

• FII index long positions at 28 per cent vs 31 per cent the previous day

• Nifty put-call ratio (PCR) at 1.03 vs 0.98

• Nifty Bank PCR at 0.90 vs 0.76

• Fear index India VIX down 11 per cent at 11.45

For existing long positions:

• Nifty intraday and closing stop loss at 19,465

• Nifty Bank intraday stop loss at 44,150 and closing stop loss at 44,300

For existing short positions:

• Nifty intraday and closing stop loss at 19,800

• Nifty Bank intraday and closing stop loss at 44,800

For new positions in Nifty:

• Sell Nifty with a stop loss at 19,735 for targets of 19,550, 19,525, 19,500, 19,485, 19,465 and 19,435

• The best range to buy Nifty is 19,465-19,525 with a stop loss at 19,400 for targets of 19,550, 19,600, 19,635, 19,675, 19,700 and 19,725

For new positions in Nifty Bank:

• Sell Nifty Bank with a stop loss at 44,800 for targets of 44,400, 44,350, 44,300, 44,250, 44,200, 44,125 and 44,000

• The best range to buy Nifty Bank is 44,200-44,350 with a stop loss at 44,000 for targets of 44,400, 44,525, 44,575, 44,625 and 44,750

No stock in F&O ban

Stocks of the day:

Sell ONGC futures with a stop loss at Rs 194 for targets of Rs 189.5, Rs 187 and Rs 185

• There's a sharp fall in crude prices

Buy TVS Motor Company shares with a stop loss at Rs 1,510 for targets of Rs 1,540, Rs 1,555 and Rs 1,565

• Strong monthly sales numbers

JSW Infra listing preview:

Singhvi, who recommended applying for the JSW Infra IPO for reasonable listing gains as well as for the long term, expects the stock to list on the bourses in the range of Rs 145-155 as against the issue price of Rs 119. 

• Long-term investors must keep it in the portfolio for 2-3 years
• Short-term investors can hold with a stop loss at Rs 130 and keep trailing

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